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Ready for your Holiday Spending?

If you’re like me, you’ve probably noticed that even small holidays are becoming increasingly commercialised. As soon as Christmas is over we see Easter eggs in stores, and before you know it we’re bombarded with Halloween costumes and decorations.

I don’t know about you, but this often means that I end up spending much more than I would if it wasn’t so commercialised. https://swiftmoney.com/ has recently revealed some interesting information about #OccassionalSpending, and released a survey of 1000 consumers. The results were interesting.

52% of the British women surveyed said that they “Always” or “Occasionally” save money for gifts. Compare this to 63% of men who admit to “Never” or “Rarely” save. Personally, I think this has a lot to do with women still doing disproportionate amounts of work within the home, which includes preparing for holidays and buying gifts.

While this is great news for retailers, who are likely making huge profits on the increased spending, it’s not so great for those of us who are trying to save and avoid teaching kids that holidays are all about gifts and spending money.

Extra spending throughout the year can make a huge difference to your ability to save. 68% of those surveyed said that they feel societal pressure to spend more on calendar events than they would like to.

Here are some ways you can budget for holiday spending:

Make a plan

Make a list of all the holidays you celebrate throughout the year- from Mother’s Day to Christmas. Plan out what you’ll need to buy for these holidays. That way, when the holiday comes around you can look at your list and purchase what is already on it- without falling victim to commericalisation.

Shop in advance

If you tend to be a last minute shopper, or you have a habit of overspending, consider shopping in advance when you see items on sale. Refer to your list and keep it in your purse or wallet so you can tick items off throughout the year. This also means that you’ll spend less time in the stores in the lead up to each holiday- so you won’t be tempted to overspend.

Keep perspective

Remember: The only winners from commercialisation are the stores. Set a budget and stick to it- otherwise you’ll continue to spend more every year as holidays continue to grow bigger and bigger.

In 2016, Brits spent a huge £21 billion on festivities, which works out to be approximately £753 per household. Much of this is due to social media and the pressure that comes along with it- when everyone is posting their Christmas hauls online, it can quickly become a game of “whoever spends more wins”.

Are you ready to spend on the holidays this year? Are you someone who tends to blow their budget when shopping for friends and family members? Let me know in the comments below.